Microchip TechnologyMCHP
Market Cap: $39.8B
About: Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.
Employees: 22,300
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
35% more first-time investments, than exits
New positions opened: 128 | Existing positions closed: 95
7% more funds holding in top 10
Funds holding in top 10: 14 [Q1] → 15 (+1) [Q2]
3% more funds holding
Funds holding: 1,176 [Q1] → 1,209 (+33) [Q2]
8% more call options, than puts
Call options by funds: $708M | Put options by funds: $653M
3% more repeat investments, than reductions
Existing positions increased: 459 | Existing positions reduced: 446
2% more capital invested
Capital invested by funds: $44.6B [Q1] → $45.5B (+$915M) [Q2]
0.53% more ownership
Funds ownership: 92.06% [Q1] → 92.59% (+0.53%) [Q2]
Research analyst outlook
12 Wall Street Analysts provided 1 year price targets over the past 3 months
12 analyst ratings
Piper Sandler Harsh Kumar 53% 1-year accuracy 18 / 34 met price target | 35%upside $100 | Overweight Upgraded | 16 Aug 2024 |
Needham Quinn Bolton 34% 1-year accuracy 44 / 130 met price target | 30%upside $96 | Buy Maintained | 5 Aug 2024 |
Rosenblatt Hans Mosesmann 57% 1-year accuracy 41 / 72 met price target | 21%upside $90 | Buy Maintained | 5 Aug 2024 |
Citigroup Christopher Danely 64% 1-year accuracy 16 / 25 met price target | 24%upside $92 | Buy Maintained | 2 Aug 2024 |
B. Riley Securities Craig Ellis 20% 1-year accuracy 11 / 55 met price target | 39%upside $103 | Buy Maintained | 2 Aug 2024 |
Financial journalist opinion
Based on 15 articles about MCHP published over the past 30 days